Chile signs official entry into OECD

President Michelle Bachelet confirmed that it was joining the club of developed countries, amid the praise from the institution’s secretary, the Mexican Ángel Gurría. The international community also sent its greetings

The Chilean government has signed the official document ratifying its inclusion as the 31st member of the Organization for Economic Cooperation and Development (OECD), after it was made public last 15 December that Chile had been accepted into what is also known as the “club of wealthy nations.”

After signing the agreement Chilean President Michelle Bachelet highlighted the “satisfaction” and “pride” that all of Chile feels at becoming the second Latin American country to join the organization, after Mexico.

“While it is true that this agreement constitutes the beginning of the path along the way to joint work between Chile and the OECD member nations, at the same time it is a great sign of acknowledgement for all our progress as a country in these years of freedom and democracy,” the chief of state said.

The president also said that joining the OECD is clear proof that Chile is moving along the path toward progress and development. “Our incorporation into the OECD is much more than an acknowledgement; it is above all the beginning of a new path loaded with the future, which opens up new and great chances for us to progress more swiftly toward that longed-for development,” she stated.

For his part, the organization’s secretary general, the Mexican Ángel Gurría, had only praise for the country’s performance, fundamentally in economic matters and the strengthening of democracy. “Chile has a lot to contribute to the OECD, due to the excellence of its public policies, and it has been benefiting from very intense activities within the OECD for many years, but as an observer,” the Mexican said.

The German Government also sent its congratulations to the Chilean authorities. The European country joined in the greetings in a communiqué issued by German Economy Minister Rainer Brüderle. “Chile is an example of how the world community continues to grow in its values and goals. Despite its dependence on exports, Chile was able to overcome the economic crisis without major damage, thanks to determined countercyclical measures and its budget discipline. This proved the country’s stability,” it states in one of the official text’s paragraphs.

Lastly, Brüderle highlighted that “for many years Chile has shown that it pursues a solid and trustworthy economic policy. The country has implemented ambitious political and economic reforms to comply with the standards and conditions for OECD membership.”

The OECD is an institution whose members include the 31 wealthiest countries in the world. Its mission is to ensure cooperation among states, in addition to providing advice on public, economic and transparency policies. According to the organization, Chile will reportedly grow by some 3% this year.